Gerard Tully, Flushing Financial banker, dies at 85
Gerard P. Tully Sr., chairman emeritus of Flushing Financial Corp., died Friday at St. Francis Hospital in Flower Hill of complications from diabetes, his family said. He was 85 and lived in Sands Point.
Tully had served as chairman of the board of Flushing Financial since the public company was formed in 1994. He also was chairman of the board of the Flushing Savings Bank subsidiary since 1980 and chief executive of the bank from 1981 through 1989. The Flushing Financial board of directors elected him chairman emeritus on Feb. 15, 2011.
Tully's son, Gerard Jr. of Locust Valley, said his father was born and raised in Queens and earned a degree in mathematics from Hofstra University, then went to work for the highway and heavy construction company founded by his father, Edward Tully and a partner, Pete DiNapoli. The company, then called Tully & DiNapoli, still exists as Tully Construction Co. of Flushing.
His son said Tully served in 1976 and 1977 as president of the General Contractors Association of New York.
Flushing Savings Bank, based in Lake Success, has 17 branches. It was a privately owned and troubled bank coping with an economic downturn when Tully joined it as chairman in 1980, said his son.
John R. Buran, president and CEO of Flushing Financial Corp., said Friday, "Under his leadership, Flushing Financial converted to a public company, and the bank has grown from a small community bank to a well-capitalized commercial bank with $4.5 billion in assets."
A wake will be held Monday and Tuesday from 3 p.m. to 5 p.m. and from 7 p.m. to 9 p.m. at Fairchild Sons Funeral Chapel in Manhasset. A funeral Mass will be conducted at 9:30 a.m. Wednesday at St. Peter of Alcantara in Port Washington.
Survivors besides his son include Tully's wife, Frances; and six daughters, Kathleen Tully of Douglaston, Karen Duffy of Radnor, Pa., Maureen Tully of Port Washington, Susan Scott of Port Washington, Anne Kneher of Glen Head and Mary Frances Steligmann of Huntington.